Guaranteed or Market Value

[Gagakev]

It's that time of the year for me, caravan insurance renewal.
Just wondering what other folk on here do when insuring the van, have you gone for Guaranteed or Market Value?
Market Value would reduce my premium by £50.00 this year and the differance on payout would be £2000.00.
Any thoughts?

 

[Raywood]

This is realy a question of whether you feel the saving of £50 is worth the risk. It would take 40 years to pay the extra £2,000 in premiums so it seems worth considering, but then again you may never have a total loss.
Despite our caravan now approaching five years old we insure for replacement as new having checked the additional premium it felt like a good idea to us, but it is a personal choice.
We are now being asked if we want to pay an extra £40 to protect the NCB which I am still not sure about as this is only worth about £400.

 

[emmerson]

Good point about NCB and value.
I don't know how many people on here have elderly classic vans, as I do, but if so, it might be worth your while asking your insurer about "agreed value" cover.It's a we bit more expensive, and as the name says, the value has to be agreed between you and the insurer, but it certainly paid off for me a couple of years ago, when the estimate for repairs would have written off my beautiful Royale.
I may be teaching granny how to make an ommlette, but.........................!